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Tim Cook says Apple’s earnings power is ‘probably under-appreciated’ in CNBC ‘Mad Money’ interview



 

In an interview with CNBC airing on Tuesday evening, Apple CEO Tim Cook says that the company has great things coming, and “the ecosystem has never been stronger.”

Apple’s Cook is taking to television to address the contined potshots analysts and Wall Street is taking since the company revised its revenue projections on Jan. 2.

“In terms of the naysayer, I’ve heard this over and over again,” Cook said in an interview with CNBC’s Jim Cramer. “I’ve heard it in 2001, I’ve heard it in 2005, in ‘7, in ‘8, in ’10, in ’12 and ’13. You can probably find the same quotes from the same people over and over again.”

“I’m not defensive on it. This is America and you can say what you want,” Cook said. “But … my honest opinion is that there is a culture of innovation in Apple and that culture of innovation combined with these incredible, loyal customers, happy customers, this ecosystem, this virtuous ecosystem, is something that is probably under-appreciated.”

The company has said that it will report $84 billion in revenue for the holiday quarter —second only in results to the 2017 holiday quarter. Wall Street responded with a continued beating of Apple stock, above and beyond what it already suffered when the company said it would no longer report sales figures of the iPhone.

“I’m never surprised by the market, to be honest with you, because I think the market is quite emotional in the short term,” Cook said when asked about the reaction to the earnings revision. “We sort of look through all of that. We think about the long term. And so when I look at the long-term health of the company, it has never been better. The product pipeline has never been better. The ecosystem has never been stronger. The services are on a tear.”

The interview with Jim Kramer will air in full on “Mad Money” on CNBC at 6 p.m. Eastern Time.





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